JD.com Exceeds Revenue and Net Profit Expectations in Q1 2024

TapTechNews May 16th report, JD.com released its first quarter financial report for 2024, with revenue and net profit surpassing market expectations.

The financial report shows that JD.com achieved revenue of 260 billion yuan in the quarter, a year-on-year increase of 7.0%, exceeding the market expectation of 258.35 billion yuan. Adjusted EBITDA was 10.8 billion yuan, estimated at 9.5 billion yuan. Net profit after adjustments for the first quarter was 8.9 billion yuan, a year-on-year increase of 17.2%, exceeding the market expected adjusted net profit of 7.412 billion yuan.

Among them, the daily necessities category in the merchandise revenue resumed rapid growth on the basis of the previous quarter, with a year-on-year revenue growth rate of 8.6%. In the first quarter, service revenue reached 51.5 billion yuan, an 8.8% increase year-on-year. Among them, logistics and other service revenue grew by 13.8% year-on-year, continuing to maintain strong growth momentum.

JD.com stated that by continuously optimizing user experience, JD.com achieved significant improvements in various user indicators in the first quarter. The number of active users in the quarter has maintained double-digit year-on-year acceleration growth for two consecutive quarters, and users' shopping frequency, NPS (Net Promoter Score), and the number of users in lower-tier cities have all significantly increased.

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